Rival Technologies Inc.
Rival Technologies Inc. — New U.S. Project
Rival Technologies Inc. / 29.09.2009 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- HENDERSON, Nev., Sept. 29, 2009 (GLOBE NEWSWIRE) -- Rival Technologies Inc. (OTCBB:RVTI) is now in discussions with a large, privately held, United States based heavy oil producer/refiner/pipeline company, regarding the use of the TRU process technology. Technical due diligence has commenced and will be completed in the next month. 'This would be an ideal partner for us, as they are involved in all aspects of heavy oil applicable to the TRU process technology,' stated Doug Thomas, President of Rival Technologies Inc. The next step would include construction of a continuous feed pilot plant using the TRU process technology and this oil producer's feed stock. Results from this phase would move the project forward to commercial production. Rival has three additional oil producers in discussions for a similar arrangement, as well as also taking steps to fund and build its own pilot plant. Total oil resources worldwide are estimated at roughly 9 to 13 trillion barrels, of which 30% are conventional. Oil sands, heavy oil and bitumen make up the remaining unconventional 70%. Before moving from the field to the refinery, unconventional resources will need to be upgraded and represent the prime market for the TRU process technology. 'Douglas B. Thomas' President & CEO Rival Technologies Inc. Certain statements in this press release constitute 'forward looking statements' within the meaning of the United States Securities Legislation. The Company's actual results could differ from those in the forward-looking statements. Do not construe this information as investment advice. This is not a solicitation to buy or sell securities. This does not purport to be a complete analysis of the Company. Investing in securities is speculative and carries a high degree of risk. Past performance does not guarantee future results. Readers should consult their own independent advisers with any investment, including any contemplated investment. All information contained in this press release should be independently investigated. This press release contains forward-looking statements. These remarks involve risks and uncertainties. Risks are not limited to quarterly fluctuations in results or the Company's management of growth and competition. Other risks are detailed in the Company's SEC filings. Actual results may differ materially from such information set forth herein. CONTACT: Rival Technologies Inc. Investor Relations 877-286-4198 info@rvti.com http://www.rvti.com News Source: NASDAQ OMX 29.09.2009 Financial News transmitted by DGAP --------------------------------------------------------------------------- Language: English Company: Rival Technologies Inc. United States Phone: Fax: E-mail: Internet: ISIN: US7680271043 WKN: End of News DGAP News-Service ---------------------------------------------------------------------------
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